Kartoon Studios (NASDAQ:TOON) Trading Down 0.1% – Time to Sell?

Kartoon Studios Inc. (NASDAQ:TOON) traded down 0.1% during mid-day trading on Tuesday . The stock traded as low as $0.5710 and last traded at $0.5890. Approximately 233,619 shares traded hands during trading, a decline of 73% from the average session volume of 872,114 shares. The stock had previously closed at $0.5893.

Kartoon Studios Stock Down 0.1%

The business’s 50 day simple moving average is $0.73 and its 200 day simple moving average is $0.67. The company has a market capitalization of $34.84 million, a PE ratio of -0.58 and a beta of 2.06.

Institutional Investors Weigh In On Kartoon Studios

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Kartoon Studios during the 1st quarter worth approximately $655,000. Caption Management LLC raised its stake in Kartoon Studios by 157.4% during the 2nd quarter. Caption Management LLC now owns 200,000 shares of the company’s stock valued at $149,000 after purchasing an additional 122,303 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kartoon Studios by 11.7% in the third quarter. Vanguard Group Inc. now owns 1,834,119 shares of the company’s stock valued at $1,354,000 after purchasing an additional 192,760 shares in the last quarter. L1 Global Manager Pty Ltd purchased a new stake in shares of Kartoon Studios in the fourth quarter valued at $44,000. Finally, State Street Corp boosted its position in shares of Kartoon Studios by 17.9% in the fourth quarter. State Street Corp now owns 141,260 shares of the company’s stock worth $102,000 after buying an additional 21,400 shares during the period. Hedge funds and other institutional investors own 8.57% of the company’s stock.

About Kartoon Studios

Kartoon Studios, Inc (NASDAQ: TOON) is a diversified entertainment company focused on creating, producing and distributing animated and live-action content for children and families. The company develops original intellectual property and builds consumer brands across television, digital streaming platforms and theatrical releases. Its offerings span episodic series, feature films and short-form programming, all designed to engage young audiences with positive messaging and educational themes.

The company’s flagship streaming service, the Kartoon Channel, features a wide library of original series such as Rainbow Rangers and Stan Lee’s Superhero Kindergarten, as well as licensed third-party titles.